Evolution Funding ranks in national profit track for second year running

Evolution Funding has made the latest Sunday Times BDO Profit Track 100 league table for a second consecutive year. The report, which is now in its 19th year, ranks Britain’s private companies with the fastest-growing profits over three years.

Evolution placed 98th with a growth in profit over three years of 55%, which the company attributes to its ongoing commitment to reinvesting into its digital infrastructure and in-house technology.

Jeremy Levine, CEO of Evolution Funding, said:

“Our strategy has always been to reinvest back into the business, allowing us to innovate and adapt our systems, processes and technologies to meet with evolving consumer needs. This, combined with the efforts of our committed and focused people, has allowed us to build a profitable business that delivers a second-to-none customer experience. It is fantastic that we have been recognised for the second year in a row by such a prestigious league table.”

In 2017, the company arranged 33,924 finance agreements and £346 million in new business advances through its motor finance brokerage, which continues to be the largest in the UK.

The league table and awards programme is sponsored by BDO and UBS Wealth Management, and is compiled by Fast Track, the Oxford-based research and networking events firm.

Terry Jones, partner and head of Yorkshire at BDO, the title sponsor of the league table, commented:

“These high-growth, high-energy and highly-entrepreneurial companies will be the difference between success and failure in our post-Brexit economic future. These businesses are playing their part by recording strong levels of revenue and profit growth and by creating jobs. We’d like to see the Government do more to help them by focusing on skills, infrastructure investment and tax simplification.”

Evolution was one of seven companies headquartered in the East Midlands which made the prestigious league table. Between them, their contribution to the local economy includes employing a total of 2,400 staff and achieving combined profits of £43m.